Related Party Transaction


 

TIDMZZL 
 
RNS Number : 6437O 
Zeehan Zinc Limited 
11 March 2009 
 

11 March 2009 
 
 
ZEEHAN ZINC LIMITED 
('Zeehan Zinc' or the 'Company') 
 
 
Related Party Transaction - Update 
 
 
Further to the announcement made on the 25 February 2009, the Company has 
provided additional information requested by its Nominated Adviser to enable it 
to form an opinion in accordance with AIM Rule 13. 
 
 
As previously announced, following a request from Creat Group, the Board of 
Zeehan Zinc agreed, in January 2009, to the early repayment of GBP1,250,000 
principal (plus accrued interest) provided under the Convertible Loan.  The 
early repayment has been made from funds received by the Company from Creat 
Group, pursuant to the share subscription approved at the AGM of 14 November 
2008.  The independent directors have determined that the Company has sufficient 
cash to complete its exploration program and the part repayment of the 
Convertible Loan will reduce the ongoing interest expense of the Company. The 
independent directors have also received indications from the Creat Group of its 
intention to provide financial support to the Company should it be required. 
 
 
The part-repayment of the Convertible Loan is a related party transaction under 
AIM Rule 13. The independent directors of the Company, having consulted with its 
Nominated Adviser, consider that the terms of the transaction are fair and 
reasonable insofar as shareholders are concerned and that the terms are 
consistent with strengthening the working relationship with the Creat Group as a 
core shareholder. 
 
 
For further information please visit www.zeehanzinc.com or enquire to: 
 
 
Zeehan Zinc plc    c/o Bankside 
Tad Ballantyne     Tel: +44 (0)20 7367 8888 
 
 
Libertas Capital    Tel: +44 (0)20 7569 9650 
Jakob Kinde, Anthony Rowland 
 
 
Bankside Consultants     Tel: +44 (0)20 7367 8888 
Simon Rothschild, Oliver Winters 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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